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The meals, luxury, gifts and shopping on holidays can really make it an expensive one. Who doesn’t want a memorable holiday? We do our best to make our holidays a memorable one but we forget the after effects of splurging. You can make your holiday debt proof by some alterations in the holiday plan.
Gifts for the family and friends can be handmade. Instead of spending a lot, go for these personalised and cheap gifts.
For everyday spending, credit card use should be avoided.
Overeating of the local delicacies can be avoided. While its good to try local foods, keep a check on the cost of meals.
Coming back after a wonderful holiday and finding a heap of red bills can really spoil all the after effects of a relaxing holiday. A lot of people pay for holidays on their credit cards and the amount of money spent on a holiday is only realised when they return home. If you are not able to make your holiday a debt proof one then you can follow these simple tips for paying off the holiday debt.
A budget should be drawn up to help you manage the expenses of your holiday. It may be scary but it could help you avoid, or at least manage, any debts.
Transactions should be made in cash as much as possible. Unless you are buying something expensive and need the additional protection offered by Credit Card purchases, using a credit card abroad can be very expensive.
Your credit card should be used wisely and only when necessary. Buying all the things you want can be made easy by these credit cards but the repayments can be a struggle. You should make sure to keep a check on any purchases you make while on holiday.
Holiday debt payment should be prioritised. spending can be fun but unchecked overspending can lead to problems when you get home.
When finances are tight, paying off debts can become difficult. This can be taken care of by compromising on things in your routine to pay off the debts created by the holiday.
It may be necessary to supplement your income with a part-time job. This can help both before your holiday by earning extra spending money, and after the holiday to help pay off any debts incurred.